California Public Finance Authority

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California Public Finance Authority

CalPFA Closes $290 MM Financing to Sharp HealthCare

The California Public Finance Authority (“CalPFA”) has provided $290 million of tax-exempt bonds to Sharp HealthCare to finance and refinance the acquisition, renovation, construction, furnishing, equipping and improvement of certain real property and health care facilities leased, owned, and operated by Sharp HealthCare. These nonprofit health care facilities have been providing health care to San Diego County for over 70 years with locations in Chula Vista, San Diego, La Mesa & Bonita, California.

This refinancing will allow Sharp HealthCare to hold true to its commitment, and to expand to serve San Diego County with four acute care and three specialty care hospitals, two affiliated medical groups and more than 18,000 employees. In addition, Sharp has pledged to the San Diego community an extraordinary standard of care through The Sharp Experience -- bringing focus and alignment to the most basic and critical element of the health care equation: people.

CalPFA partnered with Orrick, Herrington & Sutcliffe LLP and Citigroup Global Markets Inc. to provide the refinancing and financing to Sharp HealthCare.